10x Genomics $TXG Holdings Decreased by Mirador Capital Partners LP

Key Points

• Mirador Capital Partners cut its 10x Genomics stake by 46.6% in the third quarter, selling 29,657 shares and retaining 33,979 shares valued at approximately $3.07 million. Institutional investors collectively own 84.68% of TXG.
• Company insiders sold 179,333 shares worth about $11.81 million over the past three months, including sales by insider Benjamin J. Hindson and Director Shehnaaz Suliman.
• Analysts have a mixed outlook, with six Buy, eleven Hold, and one Sell rating, resulting in an average rating of Hold and a $58.60 price target. 10x Genomics recently beat quarterly EPS and revenue estimates but remains unprofitable, with revenue down 12.7% year over year.

Mirador Capital Partners LP trimmed its stake in shares of 10x Genomics (NASDAQ:TXG - Free Report) by 46.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,979 shares of the company's stock after selling 29,657 shares during the quarter. Mirador Capital Partners LP's holdings in 10x Genomics were worth $3,070,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TXG. Farther Finance Advisors LLC grew its holdings in 10x Genomics by 29.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 934 shares of the company's stock valued at $84,000 after buying an additional 215 shares in the last quarter. Elevation Wealth Partners LLC lifted its holdings in shares of 10x Genomics by 332.3% in the second quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company's stock worth $57,000 after buying an additional 1,143 shares in the last quarter. CoreCap Advisors LLC boosted its position in shares of 10x Genomics by 3,269.2% in the third quarter. CoreCap Advisors LLC now owns 1,752 shares of the company's stock valued at $158,000 after acquiring an additional 1,700 shares during the period. Fifth Third Bancorp bought a new position in shares of 10x Genomics in the first quarter valued at approximately $50,000. Finally, Nykredit A S purchased a new position in 10x Genomics during the second quarter valued at approximately $126,000. Hedge funds and other institutional investors own 84.68% of the company's stock.

Insider Buying and Selling

In other news, insider Benjamin J. Hindson sold 13,818 shares of the company's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $63.02, for a total value of $870,810.36. Following the completion of the transaction, the insider directly owned 488,182 shares in the company, valued at approximately $30,765,229.64. This represents a 2.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Shehnaaz Suliman sold 5,723 shares of the business's stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $81.19, for a total transaction of $464,650.37. Following the sale, the director owned 23,792 shares in the company, valued at approximately $1,931,672.48. This trade represents a 19.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 179,333 shares of company stock valued at $11,810,070 in the last three months. 8.84% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TXG has been the topic of a number of analyst reports. Argus initiated coverage on shares of 10x Genomics in a report on Monday, September 28th. They set a "buy" rating and a $110.00 target price on the stock. Royal Bank Of Canada initiated coverage on shares of 10x Genomics in a research report on Tuesday, September 1st. They set a "sector perform" rating and a $70.00 price target for the company. UBS Group initiated coverage on shares of 10x Genomics in a report on Wednesday, September 9th. They issued a "neutral" rating and a $68.00 price target on the stock. Stifel Nicolaus set a $50.00 price objective on 10x Genomics in a research report on Friday, August 7th. Finally, Piper Sandler lifted their price objective on 10x Genomics from $47.00 to $80.00 and gave the company a "neutral" rating in a research note on Monday, September 28th. Six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $58.60.

10x Genomics Price Performance

Shares of TXG opened at $80.65 on Friday. 10x Genomics has a 1-year low of $11.16 and a 1-year high of $102.81. The company has a market capitalization of $10.51 billion, a P/E ratio of -136.69 and a beta of 1.99. The firm's 50 day simple moving average is $68.66 and its 200 day simple moving average is $43.66.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.10. The business had revenue of $151.04 million during the quarter, compared to analysts' expectations of $146.67 million. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The business's quarterly revenue was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 EPS. On average, equities analysts anticipate that 10x Genomics will post -0.75 earnings per share for the current year.

About 10x Genomics

10x Genomics, Inc is a life sciences technology company that develops tools for analyzing biological systems at high resolution. Its platforms are used by academic and government research institutions, pharmaceutical and biotechnology companies, and other organizations studying genomics, cell biology, immunology, neuroscience, and disease mechanisms.

The company's product portfolio includes the Chromium platform for single-cell and other multiomics analyses, the Visium platform for spatial analysis of tissue, and the Xenium platform for high-plex in situ analysis of gene expression.

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